Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bitget−13.195%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 13.195% cheaper against Bitget than usual: you would sell low and buy high (spread −13.195% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,319 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	231.61	0	get 0.0000% / 8h	3h 45m	$786K	$337K	20x
Short	Injective IBM/USDC PERP	201.05	0.0033	get 0.0004% / 1h	45m 20s	—	$57	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee InjectivebpOrdersPrice spread, now −13.195%Rate

Funding earned: $7
Price spread: −13.195% → 0.000%: −$1,319.46
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,324.48
Costs to cover: 0.120%
Break-even: 1331.5 days

Slippage unknown: Bitget: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 5 min ago	2.38 bp	12.5 bp −$13	35.9 bp −$359	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

IBM on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster IBMUSDT	0.0000%	8h	231.43	−0.079%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.57	−0.017%	$54K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.63	+0.010%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.49	−0.052%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.64	+0.013%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.60	−0.004%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	231.61	long leg	$786K	$337K	20x
Variational Omni IBM	0.0000%	8h	231.60	−0.002%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.59	−0.010%	$116	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.47	−0.060%	$981	$476K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	231.90	+0.125%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0003%	8h	231.64	+0.013%	$46K	$51K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.54	−0.030%	$1.2M	$2.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.44	−0.073%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERPshort	+0.0033%	1h	201.05	−13.195%	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.091%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.35	−0.112%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.62	+0.004%	$195K	$34K	20x	as long as short